Economic development not possible without active role of private sector: Kakar

ISLAMABAD: Former caretaker prime minister (PM) Anwaarul Haq Kakar has said that economic development is not possible without the active role of the private sector.

Kakar, who is the president of the Economic Policy and Business Development Think Tank (EPBD), while addressing at a press conference here on Thursday after a meeting with Jiang Zaidong, the Chinese ambassador to Pakistan, said that both the countries have agreed to increase bilateral cooperation.

He said that Pakistan has a framework for trade with Iran. Not only Pakistan but the entire Middle East is facing problems in trade with Afghanistan, however, resolving these problems will not take long time. Regarding Pakistan’s trade ties with neighbouring India, the former PM said that Pakistan cannot force India to initiate trade relations.

Talking about increase in terrorism activities, Kakar said that there are security problems in Balochistan and Khyber Pakhtunkhwa as after the departure of NATO forces from Afghanistan; the entire region is facing security problems, because the NATO forces left behind huge stocks of weapons which are being used even in the Middle East as well as in Pakistan. Some people are challenging the establishment of Pakistan and such people will have to answer, he said. He said that Pakistan’s economy has the potential to grow and all the stakeholders must join hands to do so.

During the meeting, both leaders discussed the significance of Kakar’s inclusion in the Advisory Council, which represents a key step in strengthening Pakistan’s role in the Belt and Road Initiative (BRI). The discussion highlighted the shared vision of Pakistan and China to advance connectivity, economic development, and regional cooperation under the BRI framework.

Senator Anwaarul Haq Kakar commented: “This appointment is a reflection of Pakistan’s unwavering commitment to the Belt and Road Initiative and its transformative potential. The initiative is not just about infrastructure but about fostering meaningful partnerships and sustainable development for all participants.”

The Chinese ambassador congratulated Kakar on this significant achievement, underscoring how Pakistan’s active engagement in the BRI, particularly, through the China-Pakistan Economic Corridor (CPEC), has set an example for regional collaboration. The meeting concluded with a commitment from both sides to deepen cooperation and continue working towards the shared goal of fostering global connectivity and sustainable development.

Copyright Business Recorder, 2025